Financial Performance Highlights

Q2 FY27 Financial Results (₹ lakh)

  • Revenue from Operations: ₹6,300.90 (vs. ₹5,540.97 in Q2FY26, +13.71% YoY)
  • Total Expenses: ₹5,289.42 (vs. ₹4,830.15 in Q2FY26)
  • EBITDA: ₹1,274.93 (vs. ₹964.95 in Q2FY26, +32.12% YoY)
  • EBITDA Margin: 20.23% (vs. 17.41% in Q2FY26, +282 basis points)
  • PBT: ₹1,024.21 (vs. ₹745.37 in Q2FY26, +37.41% YoY)
  • PAT: ₹764.05 (vs. ₹557.77 in Q2FY26, +36.98% YoY) - Highest-ever quarterly PAT
  • PAT Margin: 12.13% (vs. 10.07% in Q2FY26, +206 basis points)
  • EPS: ₹1.86 (vs. ₹1.43 in Q2FY26)

H1 FY27 Financial Results (₹ lakh)

  • Revenue from Operations: ₹12,395.59 (vs. ₹10,060.70 in H1FY26, +23.21% YoY)
  • Total Expenses: ₹10,473.01 (vs. ₹8,721.38 in H1FY26)
  • EBITDA: ₹2,426.47 (vs. ₹1,880.28 in H1FY26, +29.05% YoY)
  • EBITDA Margin: 19.58% (vs. 18.69% in H1FY26, +89 basis points)
  • PBT: ₹1,940.67 (vs. ₹1,378.45 in H1FY26, +40.79% YoY)
  • PAT: ₹1,449.85 (vs. ₹1,031.52 in H1FY26, +40.55% YoY)
  • PAT Margin: 11.70% (vs. 10.25% in H1FY26, +145 basis points)
  • EPS: ₹3.54 (vs. ₹2.65 in H1FY26)

Capital Structure and Financial Position

  • Capital work-in-progress: ₹3,677.22 lakh as of 30 September 2026 (vs. ₹1,237.62 lakh previously, nearly tripled)
  • Net borrowings: ₹6,353.66 lakh (reduced by ₹1,089.24 lakh, -14.63% from ₹7,442.90 lakh)
  • Long-term borrowings: ₹1,877.39 lakh (reduced from ₹3,104.83 lakh)

Management Commentary

Mr. Ketan Shah, Chairman and Executive Director, stated:

  • Company is executing on track in its turnaround with significant opportunities across steel and power sectors, particularly thermal power
  • Focus is on winning larger orders and delivering them on schedule while protecting margins
  • Exchange has granted in-principle approval for latest preferential fundraise
  • Fundraise proceeds expected to accelerate investment in ongoing capital projects and provide greater working capital flexibility
  • Actively exploring bringing industry veterans on board to expand sales reach and strengthen project execution
  • Planning to deepen Board's industry expertise and strengthen oversight for larger and more complex projects

Corporate Events

  • Earnings Conference Call scheduled for November 16, 2026 at 12:00 PM IST
  • Preferential fundraise has received in-principle exchange approval